Clear Rock Advisors LLC Buys 453 Shares of SBA Communications Co. (NASDAQ:SBAC)

Clear Rock Advisors LLC boosted its stake in SBA Communications Co. (NASDAQ:SBAC) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,944 shares of the technology company’s stock after acquiring an additional 453 shares during the period. Clear Rock Advisors LLC’s holdings in SBA Communications were worth $1,721,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SBAC. Glassman Wealth Services boosted its holdings in shares of SBA Communications by 79.1% during the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock valued at $39,000 after buying an additional 68 shares in the last quarter. Pinnacle Bancorp Inc. boosted its holdings in shares of SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after buying an additional 67 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares in the last quarter. Quarry LP boosted its holdings in shares of SBA Communications by 400.0% during the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after buying an additional 132 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of SBA Communications during the 4th quarter valued at $43,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC traded up $2.57 on Friday, hitting $229.73. 1,866,518 shares of the company’s stock were exchanged, compared to its average volume of 978,934. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The stock has a market capitalization of $24.68 billion, a price-to-earnings ratio of 45.05, a price-to-earnings-growth ratio of 0.72 and a beta of 0.65. The business’s 50 day simple moving average is $200.44 and its two-hundred day simple moving average is $206.91.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). The firm had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.24 EPS. Equities analysts forecast that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be paid a $0.98 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 annualized dividend and a yield of 1.71%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the transaction, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SBAC. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Citigroup dropped their price target on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Barclays dropped their price target on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday. The Goldman Sachs Group began coverage on shares of SBA Communications in a research note on Monday, July 1st. They issued a “neutral” rating and a $212.00 price target on the stock. Finally, Royal Bank of Canada dropped their price target on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $240.83.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.